Insight Focus
- China’s dairy imports remain subdued with COVID restrictions still in place.
- New Zealand and US dairy prices are falling as a result.
- European prices are still being hit by the ongoing war in Ukraine.
China’s Dairy Imports Drop Below Expectations
- New Zealand’s dairy prices continue to fall on weak Asian demand.
- China’s monthly dairy products imports were down 11% in March and April.
- China’s whey powder imports alone dropped 46% in March.
- As China is the largest importer of US whey powder, Chicago whey prices dropped sharply last week.
- Positive grain and feedstock production estimates in the US also put added pressure on dairy prices.
- Most European dairy prices fell back as support from the war eased.
Other Insights That May Be of Interest…
Russian Food Self-Sufficiency: Reality or a Potemkin Village?
PET Resin Trade Flows: China’s COVID Response Slows Trade Flows
